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Further coordination between Australia and New Zealand of significant areas of business law facilitates the deepening, widening and strengthening of the trans-Tasman relationship.
Since the signing of the Memorandum of Understanding on the Coordination of Business Law between Australia and New Zealand in August 2000, significant progress has been made to remove costs to doing business across the Tasman and facilitate a more seamless trans-Tasman market. At the 20th Anniversary Ministerial Forum on 28 August 2003, Australian and New Zealand Ministers released a joint statement that outlined the business law coordination work programme. This work programme includes examining options for greater coordination of competition policy and law, developing proposals for mutual recognition of securities offerings, developing a process for trans-Tasman standardisation of accounting standards, and working on measures that will facilitate the efficient administration of trans-Tasman insolvencies.
